I thank Dr. Vishnu Bisram for pointing out an economic approach towards distributive justice in managing oil wealth in Suriname: ‘“Royalties for Everyone”, on the decision by the government of Suriname to grant a savings note (royalty shareholding certificate) of US$750 to each of its citizens, payable after 2028 with 7% interest and a contrast…
There is no provision for any effective Royalty in the 2016 Production Sharing Agreement, PSA2016. Guyana receives 2 percent as ownership rights called Royalty (usus rights). There are two other classes of rights in the design of business contracts; transformation rights and fruits of production rights. Zero value is assigned for transformation rights (abusus rights), such…
I wish to respond to the idea that the oil companies are granting Guyana a fair deal with their 50/50 billboard in which Guyana is getting one-half of the profits from sale of crude oil. Further, the ideas thrown about is half a loaf is better than nothing. This is very misleading in running a…
Guyana’s oil export led growth model leaves important gaps in Government financing that could pose sustainability threats for whichever Government is in office. One has to go back to fundamentals and ask if the engine of growth makes any contribution to the Central Government’s current or capital budget, beyond its 2 percent Royalty that Guyana…
Christopher Ram’s survey indicating an overwhelming 94% of the people wanting renegotiations of the Stabroek Block Production Sharing Agreement (PSA), and the daily commentaries that followed, have put the Government in a state of utter confusion and madness undermining arguably the most consequential issue facing our nation. By its deeds, this Government has brandished its…
In a recent letter, Ramesh Gampat explained in plain English why it is a ‘fantasy’ to say that Guyanese are rich because of oil. After removing oil from economic calculations, Dr. Gampat showed that ‘Of the 33 countries in the Americas for which data are available, there were 17 countries with per capita income larger…
The following is a commentary on Dr Bisram’s letter, `Even with a ‘yes’ referendum it would be difficult to convince ExxonMobil to come to the (re)negotiating table’ (SN Nov 9th). He writes: “The idea of a referendum is endorsed as it empowers the public”. No sir, it is to empower the government to do something….
Reference is made to my letter published in Kaieteur News on October 22, 2024 and captioned ‘Measuring oil profits in Liza One’. In response, Mr. Dominic Gaskin in his letter published in Stabroek News on Oct. 23, 2024 disagreed with some of the points I made in my letter, as identified above. Permit me, Editor,…
OGGN – Oil and Gas Governance Network (www.oggn.org/about) – does not agree with the letter ‘Exxon disappointed with KN headline’ in KN, October 22, 2024. Vice President Phil Rietema of EMGL wrote ‘… our ability to optimize all aspects of our Guyana operations to drive greater efficiencies and ensure we continue to deliver projects on time and…
On Friday, October 18th, Professor Janette Bulkan published a letter in the Stabroek News titled, `These wild presidential and DPI exaggerations, minus verifiable sources, ought to seriously be fact-checked by Stabroek News’. In the letter, the professor questioned how there could be 18,000 Guyanese working on the offshore oil rigs, as stated by President Irfaan…
